Question: (Compounding using a calculator) Bart Simpson, age 10, wants to be able to buy a really cool new car when he tums 19 . His
(Compounding using a calculator) Bart Simpson, age 10, wants to be able to buy a really cool new car when he tums 19 . His really cool car cosis 519,000 today, and its cost is expected to increase 3 percent annually. Bart wants to make one deposit todiay (he can sell his mint-condition original Nuclear Boy comic book) into an account paying 8.2 percent annualy in order to buy his car in 9 years. How much will Bart's car cost, and how much does Bart have to savo today in order to buy this car at ago 19 ? a. How much will Bart's car cost after 8 years? (Round to the nearest cont.) b. How much doos Bart have to savo today in order to bury this car at age 19 ? (Round to the nearest cent.)
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